USD/JPY flows: Dip buyers taking a break

Nothing changes sentiment more than price. After two BoJ intervention, short term dip buyers seems to be taking a break as the week comes to an end. USD/JPY have dropped below the session low after Wednesday intervention at 153 and is testing lower. There will be a press conference from Suzuki and Ueda coming up and there maybe more verbal intervention and confirmation of earlier intervention. However, USD/JPY longs will be on their toes for fear of stop being hit in illiquid hours and seems to have kept speculators away for now.

Both the U.S. Treasury and JGB yields are higher and USD/JPY has slipped 0.44% to 152.88.